IRVING, Texas--(BUSINESS WIRE)--Vizient, Inc. today announced that its expanded relationship with UConn Health has achieved significant savings, realizing more than 100% of the 18-month committed savings target, after only six months into the agreement.
UConn Health began utilizing supply chain and cost analytics software solutions, augmenting their medical/surgical and other commodity group purchasing relationship with MedAssets, beginning in July 2015. Vizient acquired MedAssets’ Spend and Clinical Resource Management (SCM) and Sg2 businesses, which support the agreement with UConn, on February 12, 2016.
UConn Health cited the company’s history of success in working with a diverse range of hospital systems and navigating the complexities of the rapidly changing healthcare industry as a critical factor in realizing the significant cost savings to date.
“As an academic medical center, UConn Health faces continued pressures to reduce costs and we are excited to have achieved dramatic savings in such a short time,” said Anne Diamond, chief executive officer of John Dempsey Hospital, UConn Health. “We are thrilled that the expanded relationship is demonstrably helping us achieve long-term financial sustainability and strengthening our ability to serve Connecticut communities with world-class research and healthcare services.”
“We are pleased to see UConn Health optimizing its supply chain operations as part of its overall cost-reduction strategies,” said Rand Ballard, chief customer officer, Vizient, Inc. “Our understanding of the unique business requirements of a wide range of hospital systems is helping UConn Health achieve sustained operational efficiencies, resulting in lower supply costs, better controls, increased clinician alignment and streamlined operations.”
About UConn Health
Based in Farmington, Conn., UConn Health is a vibrant, integrated academic medical center that includes the schools of medicine and dental medicine, the UConn Medical Group, University Dentists, and John Dempsey Hospital. Home to Bioscience Connecticut, UConn Health pursues a mission of providing outstanding health care education in an environment of exemplary patient care, research and public service. With approximately 5,000 employees, UConn Health is a major economic driver in the region, generating nearly $1 billion annually in gross state product. It is closely linked with the University of Connecticut’s main campus in Storrs through multiple cross-campus academic projects. For more information, please visit www.uchc.edu.
About Vizient, Inc.
Vizient, Inc., the largest member-owned health care company in the country, is dedicated to serving members and customers through innovative data-driven solutions, expertise and collaborative opportunities that lead to improved patient outcomes and lower costs. Vizient’s diverse membership and customer base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers and represents almost $100 billion in annual purchasing volume. The Vizient brand identity represents the integration of VHA Inc., University HealthSystem Consortium and Novation, which combined in 2015, as well as the recently acquired MedAssets’ Spend and Clinical Resource Management (SCM) segment, which includes Sg2. Headquarters are in Irving, Texas, with locations in Chicago and other cities across the United States. Please visit www.vizientinc.com as well as our newsroom, blog, Twitter, LinkedIn and YouTube pages for more information about the company.